Long Position on SLN @ $21.00 on 4/18/2024 (Fundamentals)

Silence Therapeutics plc (SLN), a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases.

Upward Trading ChannelThe company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.

The company develops Zerlasiran (SLN360), which is in phase 2 clinical trial for cardiovascular disease associated with elevated lipoprotein(a); and Divesiran (SLN124), an siRNA molecule that is in Phase I clinical trials for the treatment of genetic hematological conditions, including polycythemia vera. It is also developing SLN-COMP-1 and SLN-COMP-2 for complement-mediated diseases; and SLN-HAN-1 and SLN-HAN-2.

It has collaboration agreements with AstraZeneca PLC to discover, develop, and commercialize siRNA therapeutics for the treatment of cardiovascular, renal, metabolic, and respiratory diseases; Hansoh Pharmaceutical Group Company Limited to develop siRNAs; and Mallinckrodt Pharma IP Trading DAC to develop and commercialize RNAi drug targets designed to silence the complement cascade in complement-mediated disorders.

The company was formerly known as SR Pharma plc and changed its name to Silence Therapeutics plc in May 2007. Silence Therapeutics plc was incorporated in 1994 and is headquartered in London, the United Kingdom.

Earlier this week, the company announced the publication of additional data from the phase I APOLLO study evaluating its pipeline candidate, zerlasiran (SLN360), in subjects with baseline lipoprotein(a), or Lp(a), levels at or over 150 nmol/L in the Journal of the American Medical Association. The published findings showed that treatment with zerlasiran was well-tolerated and significantly reduced Lp(a) after single and multiple dosing.

Entry Point: $21.00

Trading Range: $4.55 - $27.72

Stop Loss: $20.00

Target Price: $23.00

 

Position closed on 5/16/2024 at price of $23.00 with a 9.52% gain in 28 days.

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